CNN’s POLITICAL GUT CHECK | for July 16, 2012 | 5 p.m.
— n. a pause to assess the state, progress or condition of the political news cycle

SNEAK PEEK: A BLISTERING ANALYSIS FROM CHARLIE COOK... “The attacks on Bain, outsourcing, and his investments are sticking to Romney like Velcro, and it’s hard to see how that will change until he picks his running mate. Romney has lost control of the debate and the dialogue. Instead of voters focusing on the economy, they are now hearing about investments and accounts in Switzerland and the Cayman Islands, as well as about outsourcing and layoffs.… If I were a Republican, I would be very concerned about the events of the past two weeks, questioning both strategy and tactics as well as the underlying assumptions that have led to the campaign decisions made so far. It would appear that a certain overconfidence has built up in the Romney camp, a smugness that would appear to come from beating an incredibly weak group of underfinanced, poorly organized rivals. … This election is starting to look enough like 2004 that Karl Rove should be demanding royalties from the Obama campaign, and others may conclude that no presidential campaign should ever again be based in Boston.” (Full article will appear on Nationaljournal.com tomorrow).

DEVELOPING: TRYING TO TAME THE BEAST ON VEEPSTAKES... Senior Romney adviser Eric Fehrnstrom tells CNN’s Jim Acosta: "No decision. It could happen anytime between now and the convention but it will only happen after a decision has been made and no decision has been made." .... Earlier in the day, Fehrnstrom fielded questions from a hungry press corps asking about Mitt Romney’s meeting with Governor Jindal: “He met with Governor Jindal but they didn’t talk about VP.” “Education was one of the topics they covered but they did not discuss VP.” “There is no decision on VP.”FULL POST

(CNN) - Lt. Gov. David Dewhurst took in more money than his Republican opponent in the latest fund-raising period of the bitter Texas GOP Senate runoff.

Dewhurst's campaign said Monday it brought in $5.98 million between May 10 and June 30, with $4.47 million of the amount being lent from his own pocket. Meanwhile his rival, tea party favorite Ted Cruz, announced raising $1.7 million.FULL POST

(CNN) – She's been featured in two negative television ads from Mitt Romney's presidential campaign, but Secretary of State Hillary Clinton said Monday the spots would have little effect on voters who already know the story of the 2008 Democratic primaries.

Speaking in Jerusalem at the tail end of a two week diplomatic trip, Clinton said in an interview with CNN Foreign Affairs Reporter Elise Labott the spots were a "waste of money."FULL POST

Washington (CNN) - A top Senate Democrat bluntly warned Monday that her party is prepared to let all the Bush-era tax cuts expire and automatic spending cuts to defense and domestic programs take place at the beginning of next year unless Republicans agree to raise taxes on the wealthiest Americans.

"If Republicans won't work with us on a balanced approach, we are not going to get a deal," said Sen. Patty Murray from Washington, the fourth-ranking Senate Democrat.FULL POST

(CNN) – While Democratic opponents have been pounding Mitt Romney to provide a greater window into his personal finances, a smattering of conservative Republicans have recently joined the chorus calling for the presumptive GOP nominee to release more years of his tax returns.

Former speechwriter to President George W. Bush Matthew Dowd and conservative columnist George Will have joined the new-found conservative refrain.FULL POST

(CNN) - It's moving time. Both parties officially transitioned into to their respective convention arenas on Monday, a little more than a month before thousands flock to North Carolina and Florida to take part in their parties' largest gatherings.

The Democratic National Convention Committee received the key to the Time Warner Cable arena in Charlotte. The committee said the event marked the next "milestone" in its planning for the convention, scheduled for September 4-6.FULL POST